Tesla car deliveries soar, though numbers relatively low

Things are looking up for Tesla, with a remarkable 70pc increase in car deliveries in Q3 of 2016, though its overall figures are small fry in the car industry.

After improving its production lines in recent months, the Elon Musk-owned electric car manufacturer Tesla has reported a spike in deliveries; with 24,500 reaching customers in Q3 of 2016.

It represents a massive 70pc increase on this time last year and, with an important target of 50,000 deliveries in the second half of 2016, it’s happy days for the company.

The numbers are small fry compared to some auto giants out there. Last year, Volkswagen sold almost 10m cars, as did GM, with Toyota breaching that figure.

Tesla is a smaller operation though; with Audi, Bentley, Bugatti, Lamborghini, Porsche, SEAT and Skoda owned by Volkwagen; Buick, Chevrolet, Cadillac, Opel and Vauxhall owned by GM; and Lexus and Scion under Toyota’s umbrella, for example.

By pursuing an electric-only model, Tesla has differentiated itself somewhat from those named above. With their bulging portfolios and long-established plans to go electric, the bigger names pose huge obstacles for the company.

And the importance of the rise in production is what’s telling, with Tesla hoping to turn around a balance sheet that has shown 13 consecutive quarterly losses.

The company is seeking significant funding in the near future to satisfy both its acquisition of SolarCity, a solar panel maker, for $2.8bn, as well as an optimistic plan to satisfy incredible interest in the first mass-produced car in its range, the Model 3.

Musk recently revealed his master plan for the next decade, which would see Tesla become just as famous for its solar energy products as its transport products.

Included in the plan was the objective of rolling out the first Tesla-powered minibuses and trucks.

It’s a bit of a crazy time for Tesla, and Musk. Norwegian Tesla owners are apparently looking for financial compensation from the electric car manufacturer, alleging their ‘insane mode’ just isn’t as insane as previously stated.

According to Bloomberg, 126 owners in the Scandinavian state have felt the need to go down the legal route after the Tesla Model S P85D reached only 469 horsepower – a full 231 horsepower below what the company pledged.

Elsewhere, news emerged that Tesla was suing US state officials after finding out it could not sell cars directly to customers.